Prairiesky Royalty Ltd. PSK

EnergyOil & GasCanada

Last close 36.98 CAD on Nov 1, 2026, +40.2% year to date

Quant rating

Quant rating C Rank 36 of 73 in Energy

Growth D 52 of 73
Valuation D 62 of 73
Quality C 30 of 73
Revisions B 11 of 73
Momentum C 43 of 73

Wall Street consensus Buy (2.50)Average target 39.20 CAD +6.0%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 8.6B
Enterprise value: 8.7B
52-week range: 24.76 – 38.08
3-year range: 21.31 – 38.08
Dividend yield: 2.87%
Beta (5 years): 0.89
Shares outstanding: 232M
Next earnings: Feb 9, 2027

About the company

PrairieSky Royalty Ltd. is a Canada-based royalty-focused company, generating royalty revenues as petroleum and natural gas are produced from its properties. The Company has a diverse portfolio of properties that represent the concentrated independently owned fee-simple mineral title position in Canada. Its asset base includes a geologically and geographically diverse portfolio of fee lands that encompasses approximately 9.8 million acres with petroleum and/or natural gas rights and approximately 8.7 million acres of GORR Lands and other acreage (collectively, the Royalty Properties). It has royalty interests in Alberta, Saskatchewan, British Columbia and Manitoba. The Company is focused on encouraging third parties to actively develop the Royalty Properties, while strategically seeking additional oil and natural gas royalty assets. Its operations include royalty income earned through crude oil, natural gas liquids (NGL) and natural gas produced on the Royalty Properties.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	478	509	513	643	308	–
Revenue growth	−6.1%	−0.8%	−20.2%	108.9%	79.7%	22.8%
EPS (basic, normalized)	0.87	0.90	0.95	1.33	0.55	–
EPS growth	−3.3%	−5.3%	−28.6%	141.8%	–	–
Gross margin	–	–	–	–	–	–
Net margin	42.9%	42.3%	44.3%	49.4%	40.0%	43.8%
ROE	7.8%	7.8%	8.2%	11.8%	5.0%	8.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	0.75x
Long-term debt (mil)	91.6
Net debt (mil)	91.7
Total equity (mil)	2,585
Net debt / equity	0.04x
Net debt / EBITDA	0.21x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	478	−6.1%	18.1x	433	−3.2%	20.1x	0.87	−3.3%	42.5x
2026	640	+33.9%	13.6x	575	+33.0%	15.1x	1.45	+66.7%	25.5x
2027	652	+1.8%	13.3x	592	+2.9%	14.7x	1.49	+3.0%	24.8x
2028	579	−11.2%	15.0x	586	−1.0%	14.8x	1.46	−2.2%	25.3x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	640	+4.3%	+4.3%	+4.3%	1.45	+12.4%	+12.4%	+11.0%
2027	652	+8.6%	+8.6%	+11.5%	1.49	+25.0%	+25.0%	+23.1%
2028	579	−1.7%	−1.7%	−0.9%	1.46	0.0%	0.0%	+5.0%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	0.20	0.25	0.20	0.25	0.25	0.24	0.20	0.19	0.24	0.41
EPS mean	0.25	0.35	0.30	0.29	0.23	0.26	–	0.17	0.22	0.42
Surprise	−20.0%	−28.6%	−33.3%	−15.3%	+8.7%	−7.7%	–	+11.8%	+9.1%	−2.4%

Peer comparison Oil & Gas

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
PSK Prairiesky Royalty Ltd.	8.6B	0.21x	42.9%	3.33x	25.5x	24.8x	15.1x	14.7x
CNQ Canadian Natural Resources Ltd	161.2B	0.93x	27.9%	3.47x	12.7x	14.3x	6.9x	7.7x
SU Suncor Energy Inc (Canada)	131.2B	0.58x	12.1%	2.71x	9.6x	12.8x	5.4x	6.6x
IMO Imperial Oil Ltd	91.3B	0.15x	7.0%	3.81x	12.3x	13.0x	7.6x	8.4x
CVE Cenovus Energy Incorporation	83.2B	0.88x	7.9%	2.48x	8.3x	9.1x	4.4x	4.8x
TOU Tourmaline Oil Corp	26.7B	0.38x	4.4%	1.67x	16.3x	14.3x	7.0x	6.4x
Mean		0.52x	17.0%	2.91x	14.1x	14.7x	7.7x	8.1x
Median		0.48x	10.0%	3.02x	12.5x	13.6x	7.0x	7.1x

Technical analysis

1M+11.5%
3M+8.8%
1Y+52.1%
3Y+71.7%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, Prairiesky Royalty Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	478	509	513	643	308	171
Cost of revenue	–	–	–	–	–	–
Gross profit	478	509	513	643	308	171
Selling, general & administrative expenses	41.2	50.9	51.4	55.4	35.6	21.1
Research & development	4.2	18.5	6.3	7.7	7.8	6.5
Depreciation/amortization	150	147	141	146	102	104
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	–	–	–	–
Other operating expenses	0	0	0	0	0	0
Operating income	282	293	314	434	163	39.3
Net interest income (expense)	−13.3	−12.2	−17.5	−18.6	−5.1	−1.5
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	269	281	297	416	158	37.8
Provision for taxes	64.1	65.3	69.1	98.3	34.4	6.1
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	205	215	228	318	123	31.7
Extraordinary items	–	–	–	–	–	–
Net income	205	215	228	318	123	31.7
EBIT, normalized	282	293	314	434	163	39.3
EBITDA, normalized	433	440	456	580	265	144
Basic EPS, normalized	0.87	0.90	0.95	1.33	0.55	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, Prairiesky Royalty Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	–	–	0	0	0	0
Receivables	63.3	69.0	61.6	80.3	52.4	27.2
Total inventory	–	–	–	–	–	–
Prepaid expenses	0.7	0.9	0.7	0.5	0.5	0.5
Other current assets	0	0	0	0	0	0
Total current assets	64.0	69.9	62.3	80.8	52.9	27.7
Property, plant & equipment	2,452	2,508	2,614	2,704	2,826	1,949
Goodwill	631	631	631	631	631	631
Intangibles	–	–	–	–	–	–
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	0	0	0	0	0	0
Total assets	3,147	3,208	3,308	3,415	3,510	2,608
Liabilities
Accounts payable	4.6	3.4	2.6	2.9	2.1	1.6
Payable/accrued	–	–	–	–	–	–
Accrued expenses	33.0	40.8	31.9	30.1	17.5	9.7
Short-term debt	0	0	0	0	0	42.9
Current portion of long-term debt	0.1	0	0.1	0.8	0.7	0.6
Other current liabilities	61.6	66.4	61.8	144	24.2	14.9
Total current liabilities	99.3	111	96.4	178	44.5	69.7
Long-term debt	242	95.5	188	218	644	1.6
Minority interest	–	–	–	–	–	–
Other liabilities	263	260	257	251	227	195
Total liabilities	604	466	541	647	916	266
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	3,315	3,404	3,404	3,404	3,403	3,203
Additional paid-in capital	6.0	6.0	6.0	6.3	8.2	7.7
Retained earnings (accumulated deficit)	−779	−668	−644	−642	−816	−869
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	0	0	0
Total equity	2,543	2,743	2,766	2,768	2,595	2,342
Total liabilities & shareholders' equity	3,147	3,208	3,308	3,415	3,510	2,608

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, Prairiesky Royalty Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	205	215	228	318	123	31.7
Depreciation, depletion & amortization	150	147	141	146	102	104
Deferred taxes	4.6	−0.2	10.3	12.7	29.8	3.4
Non-cash items	−7.0	18.4	3.3	31.6	18.5	7.2
Changes in working capital	4.4	−0.6	−63.6	57.9	−21.4	5.5
Cash from operations	357	380	319	566	252	152
Investing activities
Capital expenditures	−99.9	−49.1	−57.9	−30.6	−986	−9.4
Other investing cash flows	0.7	0	0	0	−0.8	0.8
Cash from investing	−99.2	−49.1	−57.9	−30.6	−986	−8.6
Financing activities
Financing cash flow items	−0.8	−1.3	–	0	−1.9	0.1
Cash dividends paid	−243	−236	−229	−108	−62.4	−87.8
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−14.6	−93.1	−31.8	−427	799	−56.0
Cash from financing	−258	−331	−261	−535	734	−144
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	0	0	0	0	0	0
Free cash flow	258	331	261	535	−734	143

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.